Global Upstream Petrotechnical Training Services Market
Global Upstream Petrotechnical Training Services Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
Global Upstream Petrotechnical Training Services Market Drivers and Restrains:
Upstream petrotechnical training services helps to improve productivity of the petrotechnical industry. The training services create growth opportunities that increase knowledge, develop skills, and enrich the organization. Two types of training like domain and operational training are provided in the industry. Government, private oil and gas companies provide training to their employees and they offer both internal and external training services. The company themself provides the training to their employees, in the internal training services, and third party companies provide the training to employees, in external training services. Government policies and rules regarding the safety of workers are likely to expand training services in the upstream petrotechnical market. Operators and service providers in the upstream petrotechnical industry must provide training to their employees to implement government rules and regulations.
The global upstream petrotechnical training services markets are driven by increasing demand from various organizations to employ skilled workforce in their businesses. Various technological advancements in the market resulting in consistent improving of knowledge of human force employed in these companies, this factor is anticipated to boost the growth of the market. Presence of strict government rules and compliances about the safety of individuals in these industries is expected to impel the market growth over the upcoming period. Several real-life simulative experiences with the simulative training modules is projected to drive the global upstream petrotechnical training services market growth during the forecast period.
However, Increasing cost of training expenditure resulting in lower return on investments for organizations in an already competitive market and High levels of resources required for e-learning services are hampering the market growth at the global level.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Upstream Petrotechnical Training Services Market Segmentation Analysis:
Based on training type, the global upstream petrotechnical training services market is segmented into operational and domain training. Domain training held the highest market share in 2018 owing to the oil and gas companies' necessity to provide employee training to improve their skills. Furthermore, technological advancement in the petrotechnical industry increases the demand for training to accept new procedures. Domain training is again segmented into geology & geophysics, petrophysics, geomechanics, field operations & management, reservoir engineering, drilling engineering, production engineering, economics & finance, surface facilities design and engineering. Operational training segment is expected to grow at the highest CAGR of XX% over the upcoming period due to the need for training is continuous with regulations and protocols put in place regularly to monitor illegal business activities, the safety of workers, and environment safety measures. Operational training is again segmented into information management, health, safety, and environment (HSE).
Based on the upstream sector, the global upstream petrotechnical training services market is segmented into exploration, development, and production. The exploration segment accounted for the dominant market share of XX% in 2018 and is expected to continue its dominance over the forecast period. According to Occupational Safety and Health Administration (OSHA), workers have suffered injuries through oil and gas extraction. OSHA was established to promise safe and healthy working conditions for employees by setting and applying standards and by providing training, outreach, education, and assistance.
Based on training mode, the global upstream petrotechnical training services market is segmented into training courses, e-learning, and simulator. Training courses are again segmented into face-to-face, in-house, and online. In terms of revenue, the training courses segment held the largest market share of XX% in 2018. However, simulator training is expected to grow at the highest CAGR of XX% during the forecast period due to it offers cost-effective benefits.
Global Upstream Petrotechnical Training Services Market Regional Analysis:
Geographically, the global upstream petrotechnical training services market has been segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America held the XX% share of the upstream petrotechnical training services market in 2018. The U.S. is the maximum revenue contributing country in the upstream petrotechnical services market. Oil and gas companies in the U.S. are accepting training services owing to technological development in the petrotechnical industry. Technological developments have provided opportunities for the oil and gas industry to make the most of hydrocarbon reserves. In Europe, Russia has a strong presence in the oil and gas industry. The market in Asia Pacific is expected to expand at a high CAGR of XX% during the forecast period. Moreover, the rising investments in research and development activities for the introduction of advanced petrotechnical training services are predicted to accelerate the growth of this region in the near future.
A report covers the recent development in the market for the global upstream petrotechnical training services market e.g., PJSC Rosneft Oil Company, a Russian integrated energy company established in Moscow conducted XX man-courses recently. In the upstream petrotechnical sector, the company has implemented XX man-courses.
Global Upstream Petrotechnical Training Services Market Competitive landscape
Major Key players operating in this market are The Society of Petroleum Engineers, International Association of Drilling Contractors, The European Association of Geoscientists and Engineers, The Society of Exploration Geophysicists, and American Petroleum Institute. Manufacturers in the global upstream petrotechnical training services are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
The objective of the report is to present a comprehensive analysis of Global Upstream Petrotechnical Training Services Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Upstream Petrotechnical Training Services Market dynamics, structure by analyzing the market segments and project the Global Upstream Petrotechnical Training Services Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Upstream Petrotechnical Training Services Market make the report investor’s guide.
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Scope of the Global Upstream Petrotechnical Training Services Market:
Global Upstream Petrotechnical Training Services Market, by Training Type:
• Training Courses
• Simulator (Immersive Training)
Global Upstream Petrotechnical Training Services Market, by Training Mode:
• Operational Training
• Information Management
• Health, Safety & Environment (HSE)
• Domain Training
• Geology & Geophysics
• Surface Facilities Design & Engineering
• Field Operations & Management
• Reservoir Engagement
• Drilling Engineering
• Production Engineering
• Economics & Finance
Global Upstream Petrotechnical Training Services Market, by Upstream Sector:
Global Upstream Petrotechnical Training Services Market, by End Users:
• National Oil Companies
• Independent Oil Companies
Global Upstream Petrotechnical Training Services Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Upstream Petrotechnical Training Services Market, Major Players:
• The Society of Petroleum Engineers
• International Association of Drilling Contractors
• The European Association of Geoscientists and Engineers
• The Society of Exploration Geophysicists
• American Petroleum Institute
• Total S.A.
• Royal Dutch Shell
• Baker Hughes
• Intertek Group plc.
• RPS Group PLC
• Novomet Group
• International Human Resources Development Corporation
• Asia Edge Pte Ltd.
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